J&K Bank's Robust Security System Foils Cyberattacks

Srinagar, Jul 28 (PTI) Jammu and Kashmir Bank's website was subjected to a series of cyberattacks from Pakistan after the Pahalgam terror attack, but a robust security system ensured all such attempts were foiled, said MD and CEO Amitava Chatterjee on Monday.

In an exclusive interview with PTI, Chatterjee said the cyberattacks were launched from the neighbouring countries and beyond within one day of the Pahalgam attack that left 26 persons, mostly tourists, dead.

"(April) 23rd onwards, preventive steps had been taken by this bank. The (cyber) attacks were from all sides, whether neighbouring countries or beyond. But we have managed to prevent any disturbance to any of the applications because of the strong cybersecurity system that we have," Chatterjee said.

The head of the financial institution said that the cybersecurity system is so robust that the Jammu and Kashmir government has appointed the bank's cybersecurity chief as an advisor.

"We have cyber security to that level. Now, even the UT government recognises that, and our cybersecurity officer has been engaged as an advisor by the UT government to direct them," he said.

Chatterjee said the Reserve Bank of India rates the J&K Bank as one of the best in terms of cybersecurity among all banks.

"(Also) Indian Banking Association (IBA) recently came up with awards on cybersecurity. And, in our size category, we got all the awards for the best cybersecurity," he added.

Asked if the Pahalgam terror attack and Operation Sindoor affected the bank's business, Chatterjee said while there was a definite impact, the local economy was on a revival path after the launch of the Vande Bharat train and the start of the Amarnath yatra.

"It (Pahalgam attack) has had a very strong impact on the tourism in the UT. If you look at the hotel bookings even now, they are not so good. It has improved (though). Since the start of the Vande Bharat Express and Amarnath yatra, it has shown signs of revival, but the Pahalgam attack has impacted (loan) repayments," he said.

Chatterjee said, despite the issues, he was happy with the way borrowers behaved in Jammu and Kashmir.

"The slippages have still been below one per cent, in spite of all this. If you look at the tourism and transport sector, it has been badly hit. But still, I would say people have tried to repay, and we are trying to help them," he added.

Chatterjee said through the UT Level Bankers Committee, the bank has proposed to the government to notify this geography as a disturbed area (for banking purposes) post Pahalgam terror attack and Operation Sindoor.

"Once that notification comes, and it is almost about to come any day, we will be able to give borrowers the rephased loans and, in case of need, some additional help too," he said.